Adding euros to your Greenhood account is an easy way to transfer your fiat money to the blockchain. Below is a step-by-step guide to help this process run smoothly.
Your unique address
First of all, it's important to understand that your Greenhood account is a blockchain account. Instead of an IBAN account number, which you use to transfer money at traditional banks, a blockchain account uses a unique address. This address functions as your identifier within the blockchain. It is similar to a bank account number, but has some important differences.
A blockchain address is a long string of letters and numbers specific to your account. This address offers a higher level of flexibility and strength because it allows you to transact directly and without intermediaries. This means you can trade globally without the limitations of traditional banking systems, such as long processing times and high transaction costs.
The Greenhood IBAN
To add euros to your Greenhood account, use your Greenhood IBAN. In cooperation with our partner Monerium, this service acts as a bridge between traditional and digital money. You can easily transfer money to this new IBAN, which is automatically converted to euros in your Greenhood account.
If you don't have a Greenhood IBAN yet, it's important to request one via our free service. This process is explained in our knowledge base post Request a Greenhood IBAN.
Connect the IBAN
Once you have a Greenhood IBAN, the next step is to link this IBAN to your Greenhood account. You do this by following the steps below:
1. Go to Settings > Greenhood IBAN
2. If you are not yet connected to your Monerium IBAN, click add first and then log in. If you don't have a Greenhood IBAN yet, it's important to request one via our free service. This process is explained in our knowledge base post Request a Greenhood IBAN.
3. Click on your IBAN account to open the settings.
4. See if your desired receive account is on the list. If not, add it via “connect an account”.
5. Now link the desired recipient account. This is the account where the funds are added when you transfer money to your IBAN. You can recognize the recipient account by the green bar with the receive icon.
Linked
With your IBAN linked, you're ready to transfer money to your Greenhood account. We recommend starting with a small amount; this way, you can test the connection and confirm that everything works properly.
Congratulations, you've now added euros to your Greenhood account! If you want to know how to spend your balance, check out our guide Pay in stores and online.
Do you still have questions? Then contact us via support@greenhoodwallet.com
